It’s human nature to crave familiarity and to ‘just go with what you know’. Unfortunately, its not always going to give you the best possible outcome – and just like finding the best rate on your mortgage or finding the best childcare for your toddler, finding the right insurer is exactly the same. You want the best possible care you can find at a reasonable cost.

Understand Insurance is an initiative of the Insurance Council of Australia the peak body for the general insurance industry in Australia. The group provides some great tips when choosing an insurance broker to suit your needs and worth a read.

Everyone loves a ‘Top 5’. So here are our top 5 reasons to use a broker instead of going direct to the insurance company.

  1. Ease
    Why do something that someone is a lot more qualified to do with a lot more resources at their fingertips! Life is busy enough without adding the additional stress of scouring the Internet, making countless calls to talk to companies who are dedicated to promoting their own products. An insurance broker takes the stress out of finding you the best deal. Plus there is the added bonus of only needing to deal directly with your broker in the future – no changing of staff, relaying your story to multiple employees. Your broker becomes your best buddy who just happens to find awesome deals for you.
  2. Cost
    Insurance brokers have the best rates from a wide host of insurance companies who are all competing for your business – perfect bargaining power! Contrary to widespread belief an insurance broker will not cost you an excessive amount of money to use in your insurance coverage. Brokers get far more competitive rates than you would going direct to an insurer as they have multiple clients – which means more buying power.
  3. They are Impartial
    Brokers work for you – they are about finding the policy that covers you for what you need for the best price. Leave the haggling up to them.
  4. Customer Service
    Unfortunately, customers may experience brilliant customer service when enquiring about a new product, only to find once said product has been sold, the customer service falls to the wayside. Once a valued client is on the books often customer service levels decrease as a new customer reverts to ‘just another customer’. It can be the downfall of big business. A broker will be by your side for the long term. You will not need to retell your story to the umpteenth employee who has the job of answering the customer claim or complaint line. Insurance brokers will answer you personally and directly – seemingly speeding up the entire process.
  5. Trust they have covered everything in the policy
    This may seem not as important in the sales process but is equally as valuable. Having a trusted insurance broker means you can ask those embarrassing questions that you may not like asking the one you will be insuring you directly. An insurance broker will know the terms and conditions of policies inside and out and can ensure that you know what is included and what is not. This gives you additional confidence when making a claim.

Finding a good broker is like finding a partner for life – if you find the right one, they can pay off in the end.

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